Treasury Secretary Janet Yellen said Thursday in an exclusive interview with CNN that she did not see signs of a recession in the near term as the US economy rebounded from six months of contraction.
During a one-on-one interview in Ohio that aired on CNN’s “Erin Burnett OutFront,” Yellen said the third quarter GDP data released Thursday underscored the strength of the US economy as policy makers urgently move to cool off pervasive and soaring inflation that has had a sharp effect on American views of the economy – and endangered the Democratic majorities on Capitol Hill less than two weeks from the midterm elections.
“Look, what we’re seeing right now is solid growth this quarter. Growth has obviously slowed following a very rapid recovery from high unemployment,” Yellen said when asked about whether the latest GDP data assuaged any recession concerns. “We’re at a full employment economy. It’s very natural that growth would slow. And it has over the first three quarters of this year, but it continues to be OK. We have a very strong labor market. I don’t see signs of a recession in this economy at this point.”
Yellen’s optimism comes amid growing concern from economists and finance officials that a recession is likely at some point in the next year, but was based in part on elements of the latest data that showed signs a necessary slowdown in key areas of the economy leaves open a pathway to a “soft landing” as the Federal Reserve prepares to continue its rapid pace of rate increases. #PhilMattingly #erinburnettoutfront #CNN
Treasury secretary: Not seeing signs of a recession in the US economy
This will age well 😂😂
Has occurred to anybody that this economic crisis has been manufactured through manipulation? It all started with oil prices going up can anybody tell me why it really went up or needed to go up because record-breaking profits tells me that there was no need for the oil prices to go up and that caused Transportation cost to go up and materials to go up in the whole world just got manipulated by ExxonMobil
Thats just a narrative democrats want you too believe
@David J Joetato Butt Buddy <<
How is the weather over there
@David J Joetato Butt Buddy 👈😂😂 *subhuman redhat trash chumpansee*
@TheRyanandKimberlyRecord profits aren’t fictional. And who gives a F about 10 years ago that’s entirely irrelevant.
So they just lie in your face? Wow!
They all do no matter what party’s in office, nothing new. You’re fooling yourself if you think there’s a difference.
So you came straight from Lies Antisocial, al 29 of you? *subhuman trash redhat chumpansee*
Yep
Oh yes Republicans easily lie to our faces that they don’t know what’s going on with the economy.
It’s a midterm election. So… Just spit out fluff. Remember, this statement was brought to you by the folks who said “this inflation is just transitory” last year 🤷♂
Yet here we are paying for high gas prices, TP prices @ 35 for Charmin 30 Roll, high meat prices ($20/lbs steak), high produce price, and so on…
It’s a midterm election. So…. expect the *subhuman trash redhat chumpansees* to keep regurgitating laughable propaganda, and so on…
And as long as they keep changing the definition of recession, they never will
when you have no idea about economics, you demand rigid responses to fluid circumstances.
okay mr expert behind a computer screen….and not in goverment economics
@LaTroy Oner lmao kneel more pleb
Last fight https://youtu.be/3RVEXAp6PuU
She probably has more money around her neck than most of us have in our bank accounts. She knows nothing about struggling or working with less. In other words, they don’t give a f.
You talking about Repugnants, right?
Are you struggling? How? Tell me and I can help you.
“Driving past gas stations” no I’m at the gas station paying $100 to fill my family vehicle that used to cost $50, I’m paying a mortgage payment amount to buy food for my kids. This is real, stop spinning the truth.
☝☝ 😂😂 subhuman redhat trash chumpansee account
My car still won’t take more than $35. You must drive a house boat. My car is not small, but those a-hole pickups are sitting there for an hour. Big vehicles should pay more for gas.
Headline for follow up interview with Yellen in 2 months: “Recession is transitory”
unemployment has nothing to do with the average worker being able to live happy and healthy. more workers does not equal more MONEY for workers. it just means that corperations can grow their assets and wealth. there is no obligation for them to pay they’re workers more, the more profit there is. not in the free market, “labor economy”.
She didn’t see signs of inflation either
How can you stop help us🤦🏼♀️
Is this the same person who called inflation temporary?
I don’t doubt her personal budget is in no recession.
US Real GDP is at a current level of 20.02T, up from 19.90T last quarter and up from 19.67T one year ago. This is a change of 0.64% from last quarter and 1.77% from one year ago.
The American GDP numbers are reliable. But that’s not the case for the Chinese.
Before releasing its Q3 GDP, China 🇨🇳 had to think what number they were going to put out
– and double-checked all numbers are matched. Lol
They also told us inflation is “transitory” many months ago.
Same person that said inflation is transitory?
The ‘recession’, I believe (as recessions do turn out to be) is in actual fact, a corrective one. That the ordinary folk should think that, amidst a major invasion of another sovereign nation (Russia – Ukraine), the COVID situation, accelerated climate change, etc.; things should be hunky-dory really baffles me.
US Real GDP is at a current level of 20.02T, up from 19.90T last quarter and up from 19.67T one year ago. This is a change of 0.64% from last quarter and 1.77% from one year ago.
And she thought inflation is just transitory…
Aren’t these the same people who said that there are no signs of inflation?
She also said back in May 2021 : “I don’t think there’s going to be an inflationary problem” and here we are…